Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

LeasesWe lease office space and equipment under non-cancelable operating leases. We recognize operating lease expense on a straight-line basis over the lease term, which may include renewal or termination options that are reasonably certain of exercise. Most leases include one or more options to renew, with renewal terms that can extend the lease term up to seven years. The exercise of lease renewal options is at our sole discretion. Certain of our lease agreements include rental payments that are

adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The table below summarizes the carrying amount of our operating lease assets and liabilities:

Leases	Classification	June 30, 2023		December 31, 2022
Assets
Operating lease assets	Operating lease assets	$	206,819	$	203,764
Total lease assets		$	206,819	$	203,764
Liabilities
Current
Operating lease liabilities	Accounts payable, accrued expenses and other	$	31,042	$	31,922
Noncurrent
Operating lease liabilities	Noncurrent operating lease liabilities	223,403		221,604
Total lease liabilities		$	254,445	$	253,526

The table below summarizes total lease costs:

	Three Months Ended June 30,				Six Months Ended June 30,
Lease Cost	2023		2022		2023		2022
Operating lease costs	$	12,965	$	12,092	$	25,948	$	24,453
Short-term lease costs	708		727		1,400		1,132
Variable lease costs	3,305		2,749		6,416		5,977
Sublease income	(320)		(196)		(638)		(386)
Total lease cost, net	$	16,658	$	15,372	$	33,126	$	31,176

The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases and includes a reconciliation to operating lease liabilities reported on the Condensed Consolidated Balance Sheets:

	As of June 30, 2023
2023 (remaining)	$	24,491
2024	51,048
2025	42,832
2026	38,566
2027	38,205
Thereafter	128,717
Total future lease payments	323,859
Less: imputed interest	(69,414)
Total	$	254,445

The table below includes cash paid for our operating lease liabilities, other non-cash information, our weighted average remaining lease term and weighted average discount rate:

	Six Months Ended June 30,
	2023			2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	28,039		$	24,831
Operating lease assets obtained in exchange for lease liabilities	$	19,671		$	5,756
Weighted average remaining lease term (years)
Operating leases	8.1			8.9
Weighted average discount rate
Operating leases	5.7		%	5.4		%